Archive for December, 2009
The Reverse Mortgage Industry as looked at by IOM
by on Dec.03, 2009, under Uncategorized
As you know, my job here is to provide you as much information on the reverse mortgages industry as possible so you can make an informed decision and avoid all the pitfalls and troughs of regulated financial industries. One important point never to forget in this industry is that taking any money from your home can cause the inheritance received by your heirs to be smaller. Of course if you are tapping into the equity in your home, there will be less left for those you want to leave the house to.
There are plenty more pros and cons to remember. One of the pros is that the money that you receive from the reverse mortgage is tax-free as the money is already yours and thus is not taxable. Think about what you could do with an extra $30,000 tax-free from a reverse mortgage?
